Zacks: Analysts Anticipate Cincinnati Bell Inc (CBB) to Announce -$0.02 Earnings Per Share
Analysts expect Cincinnati Bell Inc (NYSE:CBB) to report ($0.02) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cincinnati Bell’s earnings, with estimates ranging from ($0.09) to $0.04. Cincinnati Bell reported earnings per share of $0.05 during the same quarter last year, which suggests a negative year over year growth rate of 140%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Cincinnati Bell will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.38. For the next fiscal year, analysts expect that the business will report earnings of $0.14 per share, with EPS estimates ranging from $0.04 to $0.26. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $294.00 million for the quarter, compared to the consensus estimate of $284.28 million. Cincinnati Bell had a negative return on equity of 3.87% and a net margin of 6.84%. Cincinnati Bell’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share.
Several equities analysts recently weighed in on CBB shares. ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Gabelli cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Cincinnati Bell has an average rating of “Hold” and a consensus target price of $23.50.
Cincinnati Bell (NYSE CBB) traded down 1.52% during mid-day trading on Tuesday, hitting $19.40. The company had a trading volume of 209,505 shares. Cincinnati Bell has a 12-month low of $16.05 and a 12-month high of $24.45. The company’s 50 day moving average price is $20.07 and its 200-day moving average price is $19.03. The firm has a market capitalization of $818.20 million, a PE ratio of 11.83 and a beta of 1.52.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. lifted its position in shares of Cincinnati Bell by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,551 shares of the utilities provider’s stock worth $108,000 after buying an additional 55 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Cincinnati Bell by 10.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the utilities provider’s stock worth $127,000 after buying an additional 606 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Cincinnati Bell by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,316 shares of the utilities provider’s stock worth $162,000 after buying an additional 3,666 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of Cincinnati Bell by 7.3% during the 1st quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock worth $174,000 after buying an additional 668 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Cincinnati Bell by 4.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the utilities provider’s stock worth $195,000 after buying an additional 390 shares in the last quarter. 85.17% of the stock is currently owned by institutional investors and hedge funds.
Cincinnati Bell Company Profile
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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